On the Dash:
- Porsche may appoint Michael Leiters as CEO to address slumping sales, China market losses, and the costly EV-to-combustion shift.
- Blume’s dual roles at Porsche and Volkswagen raised investor concerns about divided leadership.
- Leiters’ prior experience at McLaren, Ferrari, and Porsche gives him the expertise to lead the company through its turnaround.
Porsche AG is considering Michael Leiters, former McLaren CEO, as a potential successor to current chief Oliver Blume, the company announced on Friday. The decisions come as the automaker seeks to turn around slumping sales, shrinking market share in China and the costly transition from EVs to combustion engines.
Blume has held dual roles for the past three years, serving as CEO of Porsche since 2015 while also leading Volkswagen. His dual responsibilities have frustrated investors who argue that restructuring efforts require the CEO’s full, undivided attention.
The company said Blume’s departure as CEO was reached by mutual agreement, and negotiations with Leiters are expected to begin soon.
Following the announcement, Porsche and Volkswagen shares rose 1.2% and 1.7%, respectively.
Leiters served as CEO of McLaren Automotive for three years, departing in April after its merger with Forseven. He also previously spent five years as Ferrari’s chief technology officer.
Leiters worked for Porsche between 2000 and 2013 and played a key role in developing the company’s iconic Cayenne nameplate. If appointed, he could begin his role as CEO as early as 2026.
